Law 72/2022 on the enforcement of a tax amnesty for tax liabilities, including interest and penalties for late payment, imposed by the tax authorities following the reclassification of daily allowances as salary, was published in the Official Gazette on 31 March based on a bill submitted in September 2021.
KDCP Hires Tomasz Prokurat as Partner
Tomasz Prokurat has joined KDCP Rutkowski & Wspolnicy as a Partner.
Amendment to Tax Incentives and Tax Credits for Investments with Energy Efficiency Targets
On 13 March 2022 the Hungarian Parliament approved an amendment to the Corporate Income Tax Act that modified the regulation of investment tax incentives. Based on the amendment, the only requirement to claim the investment tax credit is that the investment should be an initial investment implemented by a small and medium-sized enterprise, or is realized by a large company in the Northern Hungary, Northern Great Plain, South Great Plain, South Transdanubia, Central Transdanubia or Western Transdanubia regions. Mainly the Pest County region will benefit from the amendment, as the tax credit can be claimed after the investment projects realized in the whole region.
Hungarian Government Cuts Excise Duty on Fuel
In accordance with its latest announcement, Hungarian Government decided to temporarily decrease the excise duty imposed on fuel products as of 10 March 2022. Other governments in the region also introduced similar measures to control fuel prices and thus inflation; compliance with the EU rules, however, might be of secondary importance.
Clippings from the Official Clarifications Newsletter of Ministry of Finance – Taxes
JPM partner Nikola Djordjevic and Senior Associate Marija Vukcevic single out and analyze official clarifications and opinions on the application of financial regulations for January 2022, related to taxes, which have been published in the latest newsletter of the Ministry of Finance of the Republic of Serbia.
Humanitarian and Assistance Measures in the Context of the Military Conflict on the Territory of Ukraine
Emergency Ordinance No. 20/2022 for amending and supplementing certain normative acts, as well as for regulating humanitarian and assistance measures (“GEO 20/2022”) was published in the Official Gazette No. 231/2022.
Osborne Clarke Opens Office in Poland
Osborne Clarke has announced its entry into the CEE market by opening a new office in Poland and scooping up multi-professional services firm MDDP’s legal arm along with other lawyers.